Dubai Shares Rises After 2-Day Drop as Arabtec Signs Accord; Aramex Gains - Bloomberg

"Dubai shares advanced for the first time in three days as Arabtec Holding PJSC signed a construction accord and Aramex PJSC said profit rose.

The Dubai Financial Market General Index gained 0.2 percent to 1,509.66. Arabtec, the United Arab Emirates’ biggest builder, advanced for the first time this week and Aramex, the Middle East’s biggest courier company, climbed to the highest level in almost four months. The Bloomberg GCC 200 Index, of 200 shares in the Gulf, increased 0.3 percent at 2:53 p.m. in Dubai. Abu Dhabi’s benchmark rose less than 0.1 percent.

“GCC markets are struggling to generate strong catalysts to attract investors,” said Ali Khan, head of cash-equity trading at Dubai-based Arqaam Capital Ltd. Markets rose due to “random price action rather than something specific,” he said."